New inflation figures released Tuesday added to signs that President Donald Trump’s tariffs are driving up the cost of everyday goods, even as lower energy prices helped temper overall increases. The Labor Department’s consumer price index for July showed that the annual pace of inflation remained at 2.

Inflation held steady in July as tariffs threatened to drive prices higher, CPI report reveals. But an underlying inflation measure picked up

US inflation held steady in July despite import tariffs, bolstering bets that the Federal Reserve may cut interest rates next month. After the partial dollarisation of the economy in Cuba, the country’s peso is trading at an all-time low of 400 to 1 dollar on the informal market.

Donald Trump said on Monday that the US would not impose tariffs on imported gold, easing fears of disruption in the world’s bullion market. “Gold will not be Tariffed!” the US president wrote on his Truth Social platform.